In our last blog post, we discussed it's a good idea to allocate some of your retirement money to annuity, and don't treat annuity as investment, but as secure retirement income.
Now we will briefly discuss, qualitatively, how much annuity you should purchase.
To come up with the amount annuity you need, you need to do some work first - estimate how much your retirement expense will be, and estimate how much secure income you already have (from pension, social security income, and 401(k)).
The gap will be your annuity need.
We have a quantitative tool to help you project the expenses and incomes, if you are interested, please contact us.
Now we will briefly discuss, qualitatively, how much annuity you should purchase.
To come up with the amount annuity you need, you need to do some work first - estimate how much your retirement expense will be, and estimate how much secure income you already have (from pension, social security income, and 401(k)).
The gap will be your annuity need.
We have a quantitative tool to help you project the expenses and incomes, if you are interested, please contact us.
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